Web Trader MT5 
Japan’s Nikkei 225 hit a record high today, up 0.9% for a second day following Japanese Prime Minister resignation. Topix rose 0.51%. And the yen strengthened 0.1% to 147.40 against the dollar. Asia-Pacific markets mostly rose Tuesday, following Wall Street’s tech-driven gains. Hong Kong’s Hang Seng climbed 1.49% to its highest since late 2021, while the CSI 300 dipped 0.41%.
U.S. markets closed higher, with the Nasdaq reaching a record high ahead of upcoming inflation data. The Nasdaq rose 0.45% to 21,798, the S&P 500 gained 0.21%, and the Dow added 0.25% to 45,515
Investors now focus on upcoming inflation reports that could influence Fed decisions. Despite last week’s weak jobs report suggesting rate cuts, strong inflation could complicate the situation. Producer Price Index (PPI) data comes Wednesday, while Consumer Price Index (CPI) is out on Thursday.
On the tariffs front, the US government has collected billions from President Donald Trump’s reciprocal tariffs. But these funds could be refunded if the Supreme Court finds these import taxes illegal.
Treasury Secretary Scott Bessent warns potential refunds could reach $750 billion to $1 trillion. A faster ruling would minimize potential refunds if the tariffs are deemed illegal.
In the commodities market, gold continued to reach new record highs, now up almost 10% since Powell’s speech at the Jackson Hole Symposium in which he hinted at a change in Fed’s monetary policy. The precious metal reached a high of $3,659 this morning, thanks for the most part to weak NFP numbers last week.
Silver continues to outperform gold, gaining around 11% since 22 August. The price is now $41.52 per ounce, the highest in 14 years.
The US dollar index fell for the third consecutive day on Tuesday, now at 97.34. If the Fed moves forward with a rate cut on 17 September, the dollar is likely to drop further to 96.00 levels, the lowest level since March 2022
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